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1h ago

Illegal Gold Trade in Peru Nears $12 Billion, Industry Flags Election Threat

Laundering through processing plants flourishes under weaker enforcement.

Del Perú proviene el 44% del oro ilegal que se exporta por América del Sur
Oro ilegal en Perú iguala a la minería formal: exportaciones superan los 12 000 millones de dólares
PERUMIN 37: Exportación ilegal de cobre y oro ocasiona una pérdida de más de S/9.000 millones por evasión fiscal

Overview

  • A Bank of America analysis using IPE data estimates illicit gold exports in 2025 at about $12 billion, roughly 4% of GDP.
  • Official figures show exports far exceed output, with roughly 170 tonnes shipped last year versus about 90 tonnes produced.
  • The OMI reports a proliferation of processing plants that channel illegal ore into formal supply chains, with some ranking among top producers despite owning no mines.
  • Long-running formalization has stalled, with Reinfo having formalized about 2% of registered miners and the 2025 anti‑illicit‑mining budget cut to S/70.6 million from S/90.8 million.
  • At Perumin 37, speakers cited tax losses of more than S/9,000 million from illegal mineral exports, and SNMPE’s Julia Torreblanca warned of illicit financing and infiltration in the coming elections.